Indonesia's Djarum Group buys BCA shares worth $382 mln-sources

JAKARTA Mon Dec 20, 2010 10:34am EST

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JAKARTA Dec 20 (Reuters) - Djarum Group, Indonesia's biggest conglomerate, bought 515 million shares of PT Bank Central Asia (BBCA.JK), the nation's biggest lender by market value, worth 3.45 trillion rupiah ($382 million), increasing its stake to 50.24 percent on Monday, said two sources with direct knowledge to the deal.

The group, which is owned by Indonesia's richest Hartono family with personal wealth about $11 billion according to Forbes, bought the shares at 6,700 rupiah per share from undisclosed investors facilitated by Credit Suisse (CSGN.VX), said one source who declined to be named as the detail is not public yet.

The price was 1.5 percent higher than BCA's Monday closing share price at 6,600 rupiah. Shares of BCA have increased 31 percent so far this year but underperformed the broader market .JKSE, up 40 percent.

The conglomerate via PT Tricipta Mandhala Gumilang and PT Caturgurwiratna Sumapala -- which are also the majority shareholders of tower operator PT Sarana Menara Nusantara (TOWR.JK) -- bought BCA shares after it sold some of its stakes in Sarana via private placement in early December raising $368 million. [ID:nL3E6N90O1] ($1 = 9034.500 Indonesian Rupiahs) (Reporting by Fathiya Dahrul and Janeman Latul; Editing by Hans Peters)

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